EIB to lend 300 million Euro for Bangalore Metro Rail Project Phase II

India and European Investment Bank (EIB) have signed a contract for lending of 300 million Euro for Bangalore Metro Rail Project Phase II. Bangalore Metro Rail Project Phase II is to be jointly financed by the European Investment Bank(EIB) and Asian Infrastructure Investment Bank(AIIB). The project envisages the extension of East-West and North-South lines for Bangalore Metro Rail. The European Investment Bank (EIB) is the European Union's non-profit long-term lending institution established in 1958 under the Treaty of Rome. It is the world's largest international public lending institution.

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